When unmarried individuals purchase property together without a cohabitation agreement (please consider getting one if you’re considering it but if it’s too late…) the family court cannot help them. Perhaps you don’t agree on the share of the proceeds because of an unequal contribution to downpayment or property development. Perhaps one of you is attempting to buy out the other’s interest but you can’t agree on price. Perhaps you simply cannot get one party to agree to sell.
The proper method of dividing this asset when you can’t agree is via a partition action which is filed in the Chancery division. The process can be long and complicated, and you may need legal help. It begins with a filing of the Complaint and then an opportunity for discovery and the presentation of any proofs related to the disputes in question. Eventually, if the matter cannot settle, it will go to trial where a judge will make the final determination. Often, if the dispute is over credits, the judge will order the property sold prior to the trial and the proceeds held in trust.
If you need help determining how to get out of a mess involving property shared with an unmarried partner you no longer are with, call for a free consult at 856-227-7888.